REGIONAL OFFICE, KOTTAYAM
COLLECTORATE PO
KOTTAYAM 686002
PH 2567929, 2567927
NOTICE FOR SALE OF IMMOVABLE PROPERTY ISSUED UNDER THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 r/w SECURITY INTEREST (ENFORCEMENT) RULES, 2002
To
1. Mr. Jayakumar G, Proprietor Ammu’s Sanitary Parambath House Vaikom PIN 686141
2. K Gopinathan Nair, Proprietor Ammu’s Electricals, Parambath, House Vaikom, Kottayam Dist PIN 686641 Presently residing at Chingolamadathil, Kanjiramattom P O Ernakulam Dist
3. Mrs. Remani, Parambath House Vaikom PIN 686641 Presently residing at Chingolamadathil, Kanjiramattom P O Ernakulam Dist
4. A Sunitha Parambath House Vaikom PIN 686141 Kottayam Dist.
WHEREAS the Vaikom branch of The South Indian Bank Limited had extended certain loans/credit facilities in the accounts of 1) M/s Ammus Sanitary proprietorship concern of Mr. Jayakumar G addressee No1 among you, 2) M/s Ammu’s Electricals, proprietorship concern of Mr. Gopinathan Nair addressee No.2 among you and 3) Housing Loan account of Mr. Jayakumar, on the Guarantee/Co Obligancy of 1 to 4 among you. No. 1 and 2 had created mortgage by deposit of title deeds of immovable properties more fully described in the schedule.
AND WHEREAS Demand Notice dated 05.08.2010 was issued to all of you under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘The Act’) calling upon you to pay a total sum of Rs.8538301.00 (Rupees eighty five lacs thirty eight thousand three hundred and one Only) with interest from 31.07.2010 due to the bank with cost and charges within 60 days of receipt of the same. However as No1 to 4 among you have avoided service of the said notice dated 05.08.2010 the content of the demand notice was published in two news papers on 22.09.2010 as per Rule 3(1) of Security Interest (enforcement) Rules, 2002.
AND WHEREAS, you have failed to repay the amount within the stipulated time and hence, the undersigned has taken Possession of the immovable properties, more fully described in the schedule hereunder, under Section 13(4) of the Act read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 on 10.03.2011. Since you have neglected to pay the amount, Notice is hereby given to all of you and public in general that the immovable properties more fully described in the Schedule hereunder will be sold in public auction on “as is where is” basis and “as is what is” condition, on the date and at the place mentioned herein below subject to the following terms and conditions: -
DESCRIPTION OF IMMOVABLE PROPERTY
Place of Auction / : / South Indian Bank Regional Office KottayamReserve Price / : / Rs. 3741000/-
Earnest Money Deposit (EMD) / : / Rs. 374100/-
Date and Time of Auction / : / 05.09.2011 at 11.00 AM
1. 15.5 Cents of land with house building under Sy. No. 220/8 in Naduvila Village, Vaikom Taluk, Kottayam District covered by Doc No.1343/08 of SRO Vaikom.
(Bounded on the north by property of John, South by property of Scaria, East by Road, and West by Property of John).
2. 7 Cents of land with two storied godown building under Sy. No.177/5A/1 in Vaikom Village, Vaikom Taluk Kottayam District covered by Doc No. 1965/2006 of SRO Vaikom. (Bounded on the north by Canal, south by property of Appachan & Gopinathan, East by Property of Appachan and West by property of Gopinathan & private Road)
And 12.5 cents of land with single storied building under Sy. No.177/5A/1 in Vaikom Village, Vaikom Taluk, Kottayam District covered by 1088/76 of SRO Vaikom. (Bounded on the north by thodu & private path, south by purayidam of Appachan, East by property of Appachan, and West by PWD road)
Place of Auction / : / South Indian Bank Regional Office KottayamReserve Price / : / Rs. 7429000/-
Earnest Money Deposit (EMD) / : / Rs. 742900/-
Date and Time of Auction / : / 05.09.2011 at 11.00 AM
TERMS AND CONDITIONS
1) The property will be sold on “as is where is” basis and “as is what is” condition.
2) The proposed bidder shall read and understand the terms and conditions mentioned in the detailed Tender Cum Bid Document published by the Bank and also visit the scheduled property and satisfy as to its area, boundaries etc. The Bank shall not entertain any dispute regarding the Auction or the scheduled property after participating in Auction.
3) Interested bidders shall submit their bid along with Demand Draft for the EMD at The South Indian Bank Ltd. Regional Office, Kottayam Regency Square near Collectorate Jn, Kottayam. It may be noted that bid amount shall not be an amount less than the reserve price and any bid received below the reserve price will be rejected outright.
4) The Tender Cum Bid duly sealed shall be submitted in the address mentioned 3 above before 03.09.2011. 2.00 P M.
5) The auction will be conducted on 05.09.2011 at 11.00 AM in the presence of the bidders present.
6) The Authorised Officer has got right to accept/cancel/ postpone/ reject any bid/tender without assigning any reason whatsoever.
7) After opening the tenders, the intending bidders who have submitted their bid for not less than the reserve price will be given an opportunity at the sole discretion of the Authorised officer to have an interse bidding among them on the same date and venue.
8) The Successful bidder should pay 25 % of the bid amount (less EMD) immediately on sale being knocked down in his favour and the balance 75% amount within 15 days of the sale being confirmed in his favour, failing which the entire amount paid by the Bidder shall be forfeited by the Authorised Officer, without any notice and the sale will be cancelled and the property will be brought to sale again.
9) All amounts payable regarding the sale including EMD shall be paid by way of DD drawn in favour of “Authorised Officer, The South Indian Bank Limited” payable at Kottayam.
10) On the sale being confirmed and on receipt of full auction proceeds by the Authorised Officer, the successful bidder will be issued with a Sale Certificate as per the terms and conditions of the Bank and the SARFAESI Act. The successful Bidder should pay all the existing dues etc., to the Government/ Local Authorities including charges/ fees payable for registration of Sale Certificate such as registration Fees, Stamp Duty etc., as applicable as per law.
11) The Authorised Officer or Bank will not be held responsible for any charge, lien, encumbrance, property tax or any dues to the Government or anybody in respect of the properties under sale.
12) The Authorised Officer has obtained EC/ search report regarding the property from 10.06.2010 to 13.07.2011 and it contains encumbrance as stated below.
1. Attachment by Munsiff Court Vaikom in OS No. 155/2010, OS No. 156/2010, OS. No.160/2010, OS No.159/2010, OS No. 167/2010 OS No.74/11 and OS No.75/11 in 12.5 Cents in 177/5A/1.
2. Attachment by Sub Court Kollam in OS No.603/2010, OS No. 604/2010, OS No.693/10, OS No.697/2010, in 15.5 Cents in Sy No.220/8 and 7 Cents in 177/5A/1.
3. Attachment by Munsiff Court Vaikom in OS No. 142/2010 OS No.143/2010 in 7 Cents in Sy No.177/5A/1.
However, the said encumbrance has been created after mortgaging the property in favour of the Bank. There is no encumbrance over the property to the knowledge of the Bank other than those mentioned herein.
13) For any further information and for inspection of property, the intended bidders may contact the Authorised Officer or The South Indian Bank Ltd Vaikom Branch during working hours.
14) This may be treated as notice to the borrower/ co-obligant/ guarantor informing them that the property will be sold if the entire amount due to the Bank being Rs. 8538301/- with interest from 31.07.2010 and with costs and other charges is not remitted on or before the date fixed for sale.
Date : 30.07.2011
Place : Kottayam AUTHORISED OFFICER
(CHIEF MANAGER)